Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0027%/8h= −3.0% APRpaid last 24h +0.006%

Price spread now: Variational Omni against Aevo−0.040%7-day average +0.005% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.040%, 7d avg +0.005%

Together, before fees−0.062%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.045% cheaper against Aevo than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XAU-PERP	4,348.9	0.0104	pay 0.0013% / 1h	41m 16s	$161K	$87	10x
Short	Variational Omni XAU	4,347.1	0.0077	get 0.0038% / 4h	41m 16s	$48.4M	$27.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee Variational OmnibpOrdersPrice spread, now −0.040%Rate

Funding earned: −$5.77
Price spread: −0.040% → +0.005%: −$4.49
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.26
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 18 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 18 min ago	6.28 bp	16.1 bp −$16	27.9 bp −$279	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	1.55 bp	doesn't fit	1.6 bp −$16	3.3 bp −$328	doesn't fit

XAU on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx XAU/USDC	0.0000%	1h	4,349.3	+0.010%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,353.5	+0.107%	$93K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,345.5	−0.077%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0016%	4h	4,350.5	+0.037%	$268.8M	$410.6M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,348.1	−0.017%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345.5	−0.077%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.036%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,350.2	+0.032%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.4	+0.035%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,349.1	+0.005%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0044%	24h	4,347.5	−0.031%	$4.2M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.6	+0.776%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,345.5	−0.077%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,346.2	−0.061%	$293.9M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.7	−0.073%	$15.1M	$56.7M	25x	as long as short
Aster XAUUSD1	+0.0061%	4h	4,350	+0.025%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAUshort	+0.0077%	4h	4,347.1	−0.040%	$48.4M	$27.7M	—
GRVT XAU_USDT_Perp	+0.0084%	4h	4,348.8	−0.002%	$1.4M	$3.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,349.4	+0.011%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0092%	4h	4,349.5	+0.015%	$371.5M	$316.8M	1000x	as long as short
Binance XAUUSDT	+0.0093%	4h	4,349.6	+0.016%	$414.5M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.3	−0.059%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,345.3	−0.081%	$275K	$203K	50x	as long as short
Aevo XAU-PERPlong	+0.0104%	1h	4,348.9	long leg	$161K	$87	10x
edgeX XAUUSDC	+0.0105%	4h	4,345	−0.089%	$30.2M	$58.2M	50x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,346.1	−0.064%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0142%	1h	4,346.8	−0.047%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0160%	1h	4,349.2	+0.008%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,346.5	−0.054%	$593K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0198%	4h	4,349.6	+0.017%	$2.2M	$967K	100x	as long as short
Bullet GOLD-USD	+0.0210%	1h	4,349.7	+0.019%	$60K	$82K	10x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,349.5	+0.014%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0234%	4h	4,350.7	+0.042%	$85.0M	$144.9M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,348.1	−0.018%	$243K	$788K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0281%	8h	4,350.9	+0.047%	$165.5M	$281.6M	100x	as long as short
BloFin XAU-USDT	+0.0341%	4h	4,349.6	+0.016%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0412% / S −0.0228%	1h	4,349.7	+0.019%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0628%	4h	4,354.5	+0.129%	$2.9M	$4.3M	75x	as long as short
Bluefin GOLD-PERP	+0.0715%	1h	4,342.6	−0.144%	$25K	$14K	20x	as long as short